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First step need to take For Starting a Pharmaceutical Company

Query: I am a veterinarian by profession. Have been going through your website from past 1 year and have planned now to give a start to my own pharma company. Please let me know what will be the first step I need to take.  Answer: First Step you need to prepare yourself for Pharmaceutical Company:  Preparation means Choose marketing type, Choose molecules want to launch, Location where you want to launch product, Choose Company, Products Name, Budget available...  Choose marketing type: As number of marketing and selling types present in pharmaceutical market. i.e. Branded Marketing , Generic Marketing , OTC Marketing, Franchise Marketing etc. You need to select any one from above.  Choose Molecule: Once you have selected which marketing type is best suitable for you then you need to select at which segment and molecules you want to work. Check out: How to choose products/service for business? Location: You can't launch your pharmaceutical company all over India or at broad area.

How to become Pharma Franchise Distributor?

Pharma Franchise is an authorization granted by a pharmaceutical company or ayush company to an individual or group i.e. sales professionals, distributors etc to conduct commercial activities (i.e. sale, marketing, distribution, promotion, appointing distributor/stockist, collecting payment etc) on behalf of pharmaceutical company. Read in detail: What is Pharma Franchise?

If you have experience in pharmaceutical sale (Medical representative, Area sales manager, Regional sales manager etc), distribution, wholesale or you have good relationship with medical professionals then you are eligible to become Pharma Franchisee.

In this article, we are going to discuss about how you can take pharma franchise company distribution and start own business without investment. Pharma Pcd Franchise business is low investment business and high return business.

Procedure to become Pharma Franchisee:
  • Prepare a business plan
  • Select territory in which you want to work
  • Prepare list of medical professionals and chemists/pharmacies present in that area
  • Divide territory’s medical professionals into three parts depend at possibility of sales i.e. primary, secondary, and tertiary.
  • Search for Pharma Franchise Company list through drug books, medical news papers or through Google Online.
  • Visit their website and note down contact information
  • Make contact of at least four to five companies through phone call, massage or mail
  • Ask for product list cum price list, and tern and conditions
  • Compare prices and products available with them and your required products
  • Select best possible company for yourself depend at many factors. Read about point to consider before selecting pharma franchise company
  • Finalize monopoly right agreement and term & conditions
  • Choose products for placing order
  • Place order, clear payment
  • Receive products and start working as a pharma franchisee.
Read: How does pharma franchise business concept works?

Procedure to sell Medicines through Pharma franchise:

Hope above information is helpful to you...

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